The International Monetary Fund (IMF) has raised concerns about the growing financial losses of State-Owned Enterprises (SOEs) and urged the federal government to get rid of them, high-level sources told ProPakistani.
Negotiations between the IMF and the Ministry of Finance are still ongoing at the policy level, and the lender is not happy with government-run institutions. IMF has demanded urgent steps to privatize these loss-making entities and requested a detailed, up-to-date report on their financial performance.
Finance Ministry officials guaranteed to provide this report within two days.
Sources further revealed that a central monitoring unit within the Finance Ministry is currently compiling a report on SOEs.
It bears mentioning that losses of state-owned entities amounted to Rs. 1,400 billion in 2022 alone, and these losses are expected to increase in 2023, sources added.
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If they can’t be privatized then close them down an set up an alternative. Simple!
My very humble suggestions to IMF: plz get rid of the incompetent and incapable Ministries in the first place which are led by corrupt politicians.
IMF should ask the govt to evaluate elected members and revoke their positions if their performance is below average. Most of the ministers are not only dumb but from very bad backgrounds.